Niko Resources gets conversion notices for $475,000 7% notes due 2014

By Toni Weeks

San Luis Obispo, Calif., Feb. 11 - Niko Resources Ltd. said it received notices of conversion related to its 7% unsecured notes due July 13, 2014.

The Feb. 10 notices requested the conversion of roughly $475,000 of the notes, which will result in the issuance of about 211,113 common shares.

Following the transaction, the outstanding principal balance of the notes will be about $6.6 million.

Calgary, Alta.-based Niko Resources is an oil and natural gas exploration and production company with operations in India, Bangladesh, Indonesia, Madagascar, Pakistan and Trinidad.

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